Whereas our Products are stand-alone items that can be prepared and purchased separately, our Packages consist of a
group of Products that we have packaged together to meet specific needs. The following
Rewarding Success Packages are designed to help clients structure an effective employee performance management and reward program.
Brash Solutions is not an ‘off-the-shelf’ product provider, and always ensures
clients’ particular commercial needs are properly taken into account. Invariably,
a client would first obtain Brash Solutions’ Rewarding Success Services
to identify the right solution, and then a suitable Rewarding Success Package
may be provided.
Our tailored Equity Reward Framework (‘ERF’) may for instance include:
Annual Loyalty Awards,
Annual Executive Performance Awards,
Outstanding Performer Rewards,
Company Milestone Rewards, and
Remuneration-to-Equity Sacrifice.
Companies that implement an Equity Reward Framework will generally do so to:
Systematise the distribution of equity – An Equity Reward Framework can operate to guide the equity allocation process, and hence make the operation of the ESOP more predictable and less
ad hoc, thereby make the ESOP more effective by delivering equity to those that deserve it, and satisfy corporate governance requirements for the distribution of equity.
Motivate management and employees - Employees know in advance that sound or outstanding individual, team or company performance will trigger a share of the gains.
Retain management and key employees - Tailored vesting scales and financial incentives help keep employees focused on their role within the company, and give an extra reason to hang in there during difficult times.
Satisfy management and employees they are well paid – A sophisticated reward system will for instance link base pay to industry standards, extra awards and rewards to base salary, and bonuses to a percentage of that salary.
Communicate the company’s remuneration strategy - Employees don’t want to be kept in the dark, and share/stake-holders need assurance that their interests are at the top of the list – for instance by performance targets being set and achieved
before bonus-type remuneration is distributed.
Contact Us
if you wish to discuss any of the above.
Brash Solutions’ Gain Sharing System
(GSS) increases motivation by sharing gains with employees according to their relative contributions, while protecting a company’s bottom line.
Our GSS is built around 5 core principles:
1.
A gain sharing system should be able to reward both individual and team performance.
On an individual basis, qualifying employees are offered a fixed percentage of any gain in excess of a predetermined benchmark. On a team basis, a fixed percentage of the gain can be
channeled into a pooled fund, which is then split among team members at the end of the performance period.
2.
Employee performance should be measured using a variable that is directly relevant to their workplace and which they can influence.
For instance, net profit may be an inappropriate benchmark, because in most cases it includes items such as overheads and fixed expenses which the individual or team may have no control over.
3.
Minimum Acceptable Performance (MAP) should be clearly identified for the employee and/or team.
MAP becomes the benchmark for the basic level of expectation for an individual or team. Once clearly articulated, the potential for out-performance, and hence reward, is very much a known quantity.
4.
Performance less than MAP should not be rewarded beyond base pay.
The company’s resources should not be wasted on providing extra rewards where performance is less than acceptable
(ie less than MAP) – in these cases, employees receive just their base pay.
5.
A tailored formula should be determined for rewarding success in excess of MAP.
The formula should be fair, clearly articulated, relevant and above all, provide for a significant reward for really high performance. If possible, the formula for rewarding success should be consistent across an organisation, only the benchmarks and potential pool differing between company divisions (sales, service, administration etc).
Contact Us
if you wish to discuss any of the above, or for more information on
Rewarding Success, go to:
Systematise the distribution of equity – An Equity Reward Framework can operate to guide the equity allocation process, and hence make the operation of the ESOP more predictable and less
ad hoc, thereby make the ESOP more effective by delivering equity to those that deserve it, and satisfy corporate governance requirements for the distribution of equity.
